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Originally Posted by GGG
It’s covered in the article. They recover much of it each year,
What do you think the accuracy of Social Secuity payments should be?
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Read through it and am now informed on that side. Thanks. $28B in 2023 is still a large sum of money. For reference NASA's total annual budget is roughly $25B.
I still think the target of entitlements through fraud needs to be looked at on the GOA reports I have read through. I have an audit/forensics background believe that, including in Canada, most of these findings never get addressed. Its a nice change to see some action being taken is all I'm saying and entitlements are absolutely a place of material impact that could be made.
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The Social Security Administration's (SSA) Office of the Inspector General reported that, from Fiscal Years 2015 through 2022, the SSA made nearly $72 billion in improper payments, primarily overpayments. This amount represented less than 1% of the total benefits disbursed during that period. As of the end of Fiscal Year 2023, the SSA had an uncollected overpayment balance of $23 billion.
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https://oig.ssa.gov/news-releases/20...ce=chatgpt.com
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Since 2003, federal agencies have reported approximately $2.8 trillion in improper payments, with annual figures exceeding $150 billion over the past seven years. Notably, in fiscal year 2023, nine programs susceptible to significant improper payments failed to report estimates as required. Programs such as Medicare, Medicaid, unemployment insurance, and the Earned Income Tax Credit collectively accounted for about 80% of the total government-wide reported improper payment estimate for that year.
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https://files.gao.gov/reports/GAO-25...ce=chatgpt.com
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The GAO estimates that fraud related to COVID-19-era unemployment benefits ranges between $100 billion and $135 billion. Efforts to recover these funds are constrained by the approaching five-year statute of limitations, with projections indicating that as little as 0.8% of the defrauded amount may be recovered.
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https://www.wsj.com/politics/policy/...ce=chatgpt.com